Tuesday, 20 February 2018

Use SimpleMoney for Free and Automatic Portfolio Tracking

 Use SimpleMoney for Free and Automatic Portfolio Tracking

This is a guest post written by Pranshu Maheshwari, Founder and CEO of SimpleMoney

Use SimpleMoney for Free and Automatic Portfolio Tracking

If you are reading the Moneypitara blog, chances are that you are an investor (or aspiring investor) looking for tips, strategies and information that will help you make sense of the overwhelming world of financial markets and myriad investment opportunities out there. The current market corrections might have you questioning some of your decisions as you might experience a sharp decline in the valuation of your equities. You may have heard contradicting information about investing, and some people may even have told you that you’d be better off buying a house, or gold.

There is a lot of chaff that you will have to cut through before getting to the wheat, and this blog post is designed to help you with that. Equities markets are one of the best places to invest your money in. For those looking for a how-to crash course, my advice is simple: start out with a clear investment strategy based on your goals, monitor and rebalance your portfolio by watching out for key metrics, and use technology to stay on top of things. Inspired by my own investment-related frustrations, I started SimpleMoney, a free and automatic mutual fund and equities tracker, and here are some ways in which SimpleMoney can help you become a smarter investor:

View Your Consolidated Portfolio in One Place - it’s Automatic and Free 

Almost every investor in India has invested using a combination of portals and websites, including individual fund houses, brokerage houses, CAMS, Karvy and MFUtilities. To keep a track of all your investments in one place, you will have to maintain a complicated spreadsheet or manually upload your statements to websites. With SimpleMoney, all your transactions are automatically updated and you get to see your entire portfolio without any data entry. The way we do this is by using Artificial Intelligence to scan your investment-related emails.

Get a Comprehensive Understanding of Your Portfolio

In addition to showing you important metrics such as XIRR, SimpleMoney will show you your Asset Allocation (how many of your funds are in Debt and Equity portfolios, and within that, how many in Large, Mid, Small, Multi-cap or ELSS funds for Equity, and how many in sub-categories such as Gilt, Liquid and Ultra-short for Debt funds), the Exit Loads applicable to your funds that are still under exit load, and the Capital Gains taxes that you owe. Users can also see how their funds are performing compared to the market. Our proprietary comparison algorithm, CorrectCompare™, shows investors how each of their equity funds would have fared if they had been invested in a benchmark index. This helps you remove the influence of market timing to understand if your fund manager is picking the best funds.

Make Decisions About Rebalancing and Reallocating

By using SimpleMoney’s analysis and data, you can decide if you are on track to meet your financial goals. As a rule of thumb, investors should look at Equity investments as a long term option. In addition to maintaining an emergency fund (of about six months’ expenses in a Liquid/Money Market fund), start moving some equity funds over to debt funds when you know you have a planned expense coming up. SimpleMoney helps you do this by using the Filters page that lets you find out, for instance, which of your Equity Funds are out of Exit Load and out of Short Terms Capital Gains Taxation. By using our Subfolios feature, you can assign funds to specific goals to help you meet your expenses.

Track Your Entire Family’s Funds, and Share with an Advisor

Add multiple email IDs to track your entire family’s portfolio in one account, and share your portfolio with your Financial Advisor so that they have useful data to make the best investment decisions on your behalf.

So go ahead, try out SimpleMoney. It takes only five clicks to set up and I guarantee you that it’ll make life easier for you. I’d love to know what you think. You can reach me at support@simplemoney.in

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Use SimpleMoney for Free and Automatic Portfolio Tracking

1 comment:

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